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23 July 2019 06:50 AM
Overseas Market ReportCurrent
PreviousChangeDaily %
Monthly %
Dow Jones Industrial Average27,17227,15418.000.071.69
S&P 5002,9852,9778.000.281.17
FTSE 100 Index7,5157,5096.000.081.45
DAX 3012,289029.000.24-0.41
CAC 40 Index5,5675,55215.000.260.70
Nikkei 225 (Japan)21,41721,467-50.00-0.230.74
SSE Composite Index2,8872,924-37.00-1.27-3.83
S&P/TSX Composite Index16,51916,48633.000.20-0.04
NZ 5010,82410,825-1.00-0.014.81
US Volatility (Vix)14
Overseas Market Report

US sharemarkets rose modestly on Monday with key technology stocks leading the way. Shares in Microsoft rose by 1.3%. Amazon, Facebook and Google-parent Alphabet all rose and all will report earnings later this week. Shares in oilfield services provider, Haliburton, rose by 9.2% after the company's second quarter earnings beat forecasts. Shares in Boeing fell 1% after ratings agency Fitch revised its outlook on the plane maker. The Dow Jones rose by 18 points or 0.1%. The S&P500 lifted by 0.3% and the Nasdaq gained 58 points or 0.7%. 

Global oil prices rose on Monday as investors worried about possible disruptions to oil supplies in the Middle East on on-going tensions between Iran and Western powers. But Reuters reported that capping gains was news that "force majeure was lifted on loadings of crude at Libya's Sharara oilfield, the country's largest, whose closure since Friday had caused an output loss of about 290,000 barrels per day." The Brent crude price rose by US79 cents or 1.3% to US$63.26 a barrel. And the US Nymex price rose by US59 cents or 1.1% to US$56.22 a barrel. 

Base metal prices were lower on the London Metal Exchange on Monday by up to 2.9% with nickel down the most. But tin bucked the trend, up 0.6%.

The gold futures price rose by US20 cents or less than 0.1% to US$1,426.90 an ounce. The spot gold price was trading near US$1,424 an ounce in late US trade. Iron ore fell by US$3.75 or 3.1% to US$118.10 a tonne.

PreviousChangeDaily %
Monthly %
Oil Brent63.2662.470.791.26-2.98
Oil - West Texas crude56.1756.22-0.05-0.09-2.19
Gold Spot $/OZ1,424.001,425.00-0.60-0.041.76
Silver Spot $/OZ16.3016.400.00-0.126.53
Iron Ore118.30117.600.700.598.92
Thermal Coal Newcastle74.5074.100.400.544.49
APAC Hard Coking Coal FOB174.00179.00-5.00-2.79-9.61
Aluminium ($US/t)1,7891,824-35.00-1.922.65
Copper Mar-18 ($US/lb)2.712.71-0.80-0.310.06
Lead ($US/t)2,0022,044-42.00-2.045.53
Nickel ($US/t)14,25614,680-424.00-2.8918.62
Zinc ($US/t)2,4042,414-10.00-0.39-5.60
Tin ($US/t)17,88517,776109.000.61-6.21
Uranium ($US/lb)25.0025.
Australian Market ReportCurrent
PreviousChangeDaily %
Monthly %
ASX All Ords6,7816,786-5.00-0.070.70
S&P/ASX 2006,6916,700-9.00-0.140.61
ASX 24 Futures6,640
Australian Market Report

Monday 22 July - close. The Australian share market has edged lower, with traders apparently feeling cautious on a number of fronts. The benchmark S&P/ASX200 index finished down 9.1 points, or 0.14 per cent, to 6,691.2 points at 1615 AEST on Monday, while the broader All Ordinaries was down five points, or 0.07 per cent, to 6,781.2 points.

Ashanti Headlines

Adriatic Metals PLC (ADT.ASX, 113cps, m.cap A$166.6m with 150.5m SOI, Cash cA$12m, Polymetallic Explorer / Developer)

  • ADT have announced a maiden Mineral Resource estimate has been completed for the Rupice deposit, and an updated Mineral Resource estimate completed for the Veovača deposit, both of which are located close to the mining town of Vareš in Bosnia and Herzegovina. Both resource estimates were completed by CSA Global in Perth, Australia. 
  • The Mineral Resource estimate for Rupice is 9.4mt @ 16.4% ZnEq using a 0.6% cut off grade:
  • The Rupice Mineral Resource begins at surface and currently extends to depths of 300m. The mineralisation remains open with significant potential to increase the size of the Mineral Resource.
  • BR-09-19 returns 26m at 3.3% Zn, 2.4% Pb, 162g/t Ag, 0.98g/t Au and 0.3% Cu, and 12m at 63% BaS04 from 232m, including 6m at 8.4% Zn, 6.1% Pb, 384g/t Ag, 2.24g/t Au, 0.5% Cu and 69% BaS04 from 236m.
  • Drilling is planned in new areas to search for possible repetitions of the mineralisation at Rupice which, in part, is being aided by the results from the 2019 high-powered ground geophysics survey
  • 5 rigs remain on-site at Rupice and drilling continues to extend the known mineralisation.

  • Updated Mineral Resource for Veovaca is 7.4mt @ 3.7% ZnEq using a 0.6% cut off grade:
  • Drilling at Veovaca has added gold and silver into the entirety of the Mineral Resource estimate and increased the Indicated Resource category to 71%.
  • The Veovaca Mineral Resource begins at surface and currently extends to depths of 200m
  • The Mineral Resource estimates, together with the metallurgical, geotechnical and hydrogeological studies that are underway, will underpin a Scoping Study prior to a Feasibility Study
  • Adriatic’s Executive Director, Paul Cronin commented: “Historically, few drill holes were assayed for precious metals. Our work since acquiring the project in early 2017 has confirmed that significant resources of precious metals exist within the confirmed base metals resources. The Rupice deposit is world class and our exploration program will be seeking to expand the known mineralisation. Our most recent drill holes suggest that high grade mineralisation continues to the north and our IP survey has indicated, in conjunction with soil geochemistry that further drilling is required on a number of prospects within our existing and expanded concession area. Regardless, we now have a substantial resource inventory for use in initial scoping studies.”
  • Please contact your adviser or the desk on +61 8 6319 7807 should you wish to discuss further
  • A link to the full announcement can be found here

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